GBPAUD – DTF Technical & Fundamental Analysis
On the daily timeframe, the price was previously within a range following an uptrend. A major support level at 2.07500 has been breached in recent sessions, signaling a potential Change of Character (CHoCH) and possibly indicating a shift in market momentum. Additionally, the price has broken below a minor support level at 2.05800, with an accumulation phase developing.
Our strategy moving forward is to monitor price action as it seeks liquidity above the identified liquidity zone. We will wait for clear confirmation of liquidity formation. Should the price return to test and break the support level again, the area of interest lies around 2.05790 (a potential breakout point). Risk management should be placed below 2.07260 should liquidity form as expected. The longer-term target is a potential move toward the next minor resistance zone at 0.90650.
